The number of borrowers with high mortgage debt has exploded. Photo / 123RF
The number of Kiwis with mortgages over $1 million has doubled in just three years, raising concerns about how they will cope with rising interest rates and the soaring cost of life.
In the third trimester
“Over the past three years, what we’ve seen are indeed rock-bottom interest rates and rising house prices. There’s been a lot of cheap borrowing to buy properties. expensive houses.”